- PEPE has broken out of a falling wedge pattern, with bullish momentum building toward the key resistance at $0.00001576.
- A 2 trillion token whale transfer and rising large transactions suggest strong accumulation and the potential for further upside.
PEPE, the viral memecoin inspired by the iconic frog meme, is back in the spotlight after staging a powerful bullish reversal. Currently trading around $0.00001412 — up 3.8% in the last 24 hours — PEPE has broken out of a falling wedge pattern, flipping key resistance into support and igniting bullish momentum across the board.
PEPE, the viral memecoin inspired by the iconic frog meme, is back in the spotlight after staging a powerful bullish reversal. Currently trading around $0.00001412 — up 3.8% in the last 24 hours — PEPE has broken out of a falling wedge pattern, flipping key resistance into support and igniting bullish momentum across the board.
The recent price action signals a shift in market sentiment, with the 4-hour chart showing a clean breakout above the $0.00001384 resistance level. This breakout transformed previous resistance into strong support, and the price is now consolidating above crucial EMA clusters. With Bollinger Bands expanding and volatility making a comeback, traders are eyeing the next major resistance at $0.00001576 — a zone that could unlock higher targets around $0.00001750 to $0.00001800.
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Adding to the bullish case is significant on-chain activity. A massive 2 trillion PEPE tokens, valued at over $27.8 million, were moved from Bybit to an unknown wallet. Far from being a bearish signal, this transfer aligns with the technical breakout, suggesting strategic accumulation by a high-conviction investor — likely a whale positioning ahead of a larger rally.
Supporting this, data shows a 2300% spike in transactions between $1 million and $10 million, indicating that deep-pocketed players are loading up. Active addresses have also increased by over 8%, while a sharp rise in short liquidations — $1.02 million on May 27 alone — suggests a classic short squeeze is underway.
Technical indicators confirm the bullish momentum. PEPE is holding above the 0.382 Fibonacci retracement level, with the ADX reading above 45 and a strong +DI crossover. The 30-minute Ichimoku Cloud also shows continued upward bias with price action above the Kumo cloud.
As long as PEPE maintains support above $0.00001332, the bullish structure remains intact. A decisive breakout above $0.00001576 could mark the beginning of a new rally phase — one that may push the memecoin to new local highs.
